Advanced Audit and Assurance
The Advanced Audit and Assurance course is designed to equip students with an in-depth understanding of the audit and assurance environment, focusing on the application of audit principles in complex business contexts. The course builds on foundational auditing knowledge, emphasizing critical analysis, professional judgment, and the ability to handle real-life scenarios faced by auditors in practice.
Students will explore current developments in auditing and assurance, including regulatory frameworks, ethical considerations, risk assessment techniques, and the impact of emerging technologies. The course also examines the audit of group financial statements, non-audit engagements, forensic auditing, and reporting issues.
Through case studies, simulations, and practical exercises, students will develop the skills required to plan, manage, and report on advanced audit engagements, as well as evaluate the quality of audit evidence and form appropriate opinions. The course prepares students for leadership roles in audit firms and corporate assurance functions.
The recorded materials will go a long way in assisting students to pass the Institute of Chartered Accountants professional examinations with ease.
Key Topics Include
- The regulatory and ethical framework for audits and assurance
- Planning and risk assessment in complex audit engagements
- Group audits, joint audits, and audits of specialized entities
- Audit evidence and sampling in advanced contexts
- Use of data analytics and technology in auditing
- Reporting issues and modifications to the auditor’s report
- Forensic auditing and investigation techniques
- Quality control and practice management
- Assurance engagements beyond the statutory audit
Learning Outcomes
By the end of the course, students will be able to:
- Apply professional judgment and skepticism in planning and performing complex audit and assurance engagements.
- Evaluate and respond to risks of material misstatement in various business contexts.
- Assess and apply ethical and regulatory requirements in real-world scenarios.
- Design audit procedures using appropriate evidence-gathering techniques and technology tools.
- Formulate and communicate clear, appropriate, and compliant audit opinions and assurance reports.
- Critically analyze audit quality, practice management issues, and the impact of emerging trends on the profession.